First ever grass root refinery in Sainshand, Dornogobi Provnce, in Mongolia is being set up for a capacity of 1.5 Million Metric Tonnes Per Annum (MMTPA), which will be implemented with the funding from Exim Bank of India under $ one billion Line of Credit (LOC). This refinery project would have 65% Indian content and 35% content would be foreign, including Mongolian.
New Delhi is also expected to take a decision on enhanced funding shortly as requested by Mongolia. The government of that country has requested India to consider allocating additional funds after examination and analysis of the Detailed Feasibility Study (DFS). Based on the timelines projected, the refinery is likely to become fully operational by mid- 2023.
